Compulsory to file Return after PAN Card ?

This query is : Resolved 

20 June 2011 Is it compulsory to file Income Tax Return for an Individual every year after he has been issued a PAN Card .

20 June 2011 Not compulsory provided your income is less than taxable limit if you are other than a salaried employee and if you are a salaried employee if your income is less than 5 lakhs you need not file a return.

20 June 2011 no it is not. if your income is above 160000(5 lakh notification yet to come)before allowing deduction under Chapter-VIA then only it is obligatory to file ITR refer sec 139 of IT Act in this regard.


21 June 2011 Thanx , Guys . You guys are real experts & constantly improving !




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